5 Affordable Ways To Improve A Rental Property
If you own a rental property and don't have the help of a property management company, you have to deal with a lot of competition, especially if you are in a big city. To attract more tenants, you must make your property stand out from all the rest. However, if you are on a budget, you might worry about being able to afford the necessary improvements. The good news is that making over your property does not have to cost a fortune. You do not have to replace the flooring or install new cabinets. Here are five affordable ways to spruce up your rental property:
Paint the Kitchen Cabinets
If the kitchen cabinets in your rental property are several years old and look kind of dingy, they can make the entire room look worse. However, you do not have to spend a lot of money to replace old cabinets. Paint them instead. Adding a fresh coat of semi-gloss paint will make the cabinets look shiny and new. Prospective tenants will think you recently installed new ones.
Plant Flowers in the Front Yard
Add some color to your property by planting some flowers in the front yard. When people drive by and see beautiful flowers surrounding your rental property, they will be more likely to stop by. If it is wintertime, you can still plant many different flowers in the yard. For example, the red river lily blooms in the fall, but this flower can still come to life again on mild winter days.
Get a New Shower Curtain
It may seem really simple, but replacing a shower curtain can actually add a lot of appeal to the bathroom of your rental property. A simple and contemporary shower curtain can instantly make the bathroom look newer. You can find a high-quality shower curtain for less than $50 at department stores.
Install Window Shutters
Bare windows can make a rental property look quite boring, so think about installing wooden shutters. These shutters will give your windows a little more appeal and attract more prospective tenants to your property.
Install an Alarm System
If you do not already have one, consider installing an alarm system in your rental building. Even if your apartment complex is in a safe neighborhood, burglaries can still happen and many tenants know this fact. Installing an alarm system will make your tenants feel better and show them that you care about their safety. You can include the cost of monthly monitoring in your tenants' rent.
If you follow these helpful tips, you can add appeal to your property and get potential tenants excited about renting.